TotalEnergies Lights Up Nigeria's Future With Ubeta Gas Field FID
Portfolio Pulse from Lekha Gupta
TotalEnergies SE (NYSE:TTE) and the Nigerian National Petroleum Corporation Ltd (NNPCL) are set to develop the Ubeta gas field in Nigeria. The project is expected to start production in 2027, reaching a plateau of 300 million cubic feet per day. TotalEnergies holds a 40% interest in the OML 58 onshore license and a 15% interest in the Nigeria LNG plant's capacity expansion. Investors can gain exposure to TotalEnergies via ETFs like First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF (ARCA: EIPX) and Keating Active ETF (NASDAQ: KEAT).
June 20, 2024 | 5:01 pm
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POSITIVE IMPACT
First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF (ARCA: EIPX) offers exposure to TotalEnergies, which is set to develop the Ubeta gas field in Nigeria. This development could positively impact the ETF's performance.
As EIPX holds TotalEnergies, the positive development in Nigeria could enhance the ETF's performance, benefiting investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Keating Active ETF (NASDAQ: KEAT) provides exposure to TotalEnergies, which is developing the Ubeta gas field in Nigeria. This project could positively influence the ETF's performance.
KEAT's exposure to TotalEnergies means that the positive news about the Ubeta gas field development could enhance the ETF's performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
TotalEnergies SE (NYSE:TTE) is set to develop the Ubeta gas field in Nigeria, with production starting in 2027. The project is expected to reach a plateau of 300 million cubic feet per day, enhancing TotalEnergies' gas production capabilities.
The development of the Ubeta gas field will significantly boost TotalEnergies' gas production capabilities, which is likely to positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100